All the headlines from our Market Topic Page, ordered by recency.
May 22 2019 // The long-term viability of the U.S. property terrorism insurance market is back in the spotlight as Congress looks at renewing the federal reinsurance backstop, the Terrorism Risk Insurance Program Reauthorization Act...
May 21 2019 // The U.S. property/casualty industry posted net underwriting income of $4.2 billion in first-quarter 2019, a 24.0% increase from the same period in the previous year, according to preliminary financial results.According to...
May 21 2019 // Ping An Insurance (Group) Co. employed about 1.4 million people to peddle policies last year. Yet it’s Jack Ma’s newest online disruptor that is stealing the show — with 50 workers and visions of serving...
May 20 2019 // The billionaire technology investor and philanthropist who has promised to assume the $40 million student debt of the entire graduating class at Morehouse College has ties to the insurance industry.Robert F. Smith, who...
May 20 2019 // Let’s face it, insurance is a commodity. The insurance consumer will not see any significant value difference between insurance companies and insurance agencies. Products, price and service are roughly the...
May 20 2019 // Allianz Global Corporate & Specialty (AGCS) announced that Baptiste Ossena, global product leader of Hull and Marine Liabilities (HML), is assuming additional responsibility as the North American regional head of HML....
May 20 2019 // The changing legal status of marijuana in the U.S. is prompting insurers to begin offering coverages, despite having extremely limited loss data to inform them.While marijuana remains illegal at the federal level, action...
May 17 2019 // London’s marine insurance market has extended the list of waters deemed high risk to include Oman, the United Arab Emirates and the Gulf after ship attacks off Fujairah, officials said on Friday, in a move that could...
May 16 2019 // Michael Peterson has had about five months to come in and tackle what promises to be unique job.Peterson is California’s deputy commissioner for climate and sustainability. After California Insurance Commissioner...
May 8 2019 // Michigan’s Senate has passed legislation aimed at cutting the country’s highest average auto insurance premiums by eliminating a requirement that drivers buy unlimited medical benefits to cover crash...
May 7 2019 // Specialty insurer RLI Corp. announced that its chief financial officer is retiring and it has made other executive changes.CFO Thomas Brown, who is also a senior vice president, will retire on July 1, 2019 after eight...
May 6 2019 // The insurance industry must wake up to the growing cost of “secondary” catastrophe perils, which amounted to more than 60 percent of the $76 billion price tag for insured natural catastrophe losses during 2018,...
Apr 30 2019 // Insurance industry veterans Stephen Catlin and Paul Brand announced they have launched an international specialty insurer and reinsurer, Convex Group Ltd.Convex launches with $1.8 billion of initial committed capital and...
Apr 25 2019 // Direct-to-consumer auto insurers appear to be gaining serious market traction, according to a report from J.D. Power.The firm reports that auto insurance revenue hit $245 billion in 2018, reflecting industrywide growth of...
Apr 24 2019 // While total dedicated reinsurance capital dropped in 2018, alternative capital continued its steady rise, according to a report published by Willis Re.Total dedicated reinsurance capital – which includes traditional and...
Apr 23 2019 // California’s new insurance commissioner wasn’t getting along so well on Earth Day with groups of climate change and consumer activists.California Insurance Commissioner Ricardo Lara, who put battling climate...
Apr 22 2019 // North Dakota Gov. Doug Burgum has signed a bill that allows for establishing a reinsurance pool for the individual health insurance market in that state.House Bill 1106, backed by the North Dakota Department of Insurance,...
Apr 22 2019 // After two consecutive years of combined ratios above 100, the U.S. property/casualty industry returned to a modest statutory underwriting profit in 2018 as catastrophe losses slowed, premium growth accelerated and several...
Apr 17 2019 // A new report shows that in 2017, Michigan’s insurance industry made an economic contribution of more than $38 billion to the state’s economy.The report released by Insuring More for Michigan also shows that...
Apr 17 2019 // Pennsylvania Insurance Commissioner Jessica Altman has announced that her department, along with a working group of stakeholders, will this summer hold the Pennsylvania NextGen Insurance Academy to provide college students...